Question: Its a multiple choice question that i need help regarding the balace of payment Answer questions 28-30 based on the following balance of payments accounts

Its a multiple choice question that i need help regarding the balace of payment

Its a multiple choice question that i need help regarding the balace

Answer questions 28-30 based on the following balance of payments accounts for a hypothetical country. 2004 2005 Rm Rm Merchandise exports (including gold) 174 897 325 924 Merchandise imports 150 025 279 823 Current transfers -5 662 -5 843 Balance Financial account -377 -162 Net foreign direct investment -475 12 145 Net foreign portfolio investment 52 346 -4 271 Balance ? Change in gold and foreign reserves 28. What is the balance on the current account in 2004? ] R24 872m surplus R19 210m surplus R319 260m surplus R3 926m deficit R51 871m surplus A 29. What is the balance on the financial account in 2005? GEWEE R40 258m surplus R162m deficit R7 874m surplus R7 712m surplus R16 416m surplus 30. Suppose this country had no foreign exchange reserves at the end of 2003, what would be their foreign exchange reserves at the end of 2005 (ceteris paribus)? GEWCE R47 970m R70 704m R118 674m R70 973m The country would need another R539m worth of foreign currency to meet its commitments to the rest of the world

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